21 chapter 14 student
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TRANSCRIPT
Wednesday, November 6th
•Chapter 14 – Closing & RP2
Monday, November 11th
•NO CLASS
Wednesday, November 13th
•Chapter 9 – Building a Customer Base
Where we are and where we are goingSection 100 – Monday/Wednesday
ROLE PLAY 2 WEEK OF NOV 18
Professional Selling: MKT 3580Chapter 14: Closing & Confirming the Partnership
Learning Objectives Methods for closing the sale Recognizing closing clues What to do when the buyer says “yes” or “no”
Attitude toward Closing
Be empathetic
Move customer from indecision to commitment
Correct closing method reduces pressure
Closing should be thought of as the beginning of a long-term partnership.
Think about it: once you’ve successfully solved the problem, asking for the order is the next logical step
Planning How to Close
Ask for the Order
Most buyers will not ask you to place an order
You have to ask for it Number one reason salespeople don’t?
FEAR Of damaging the partnership
Of upsetting or angering the buyer
Of embarrassment
Buyer Anxiety & Reluctance
Buying can cause emotional stress Aka buyer’s remorse Examples?
Loss of options Fear of making a mistake Social or peer pressure
Guidelines for Closing the Sale1. Focus on dominant buying motives
Which benefit interests buyer the most
2. Longer selling cycles require incremental commitments Like Role Play 1 – can we have a second meeting
3. Negotiate tough points before close What’s your product’s Achilles heel? Address it up front
4. Avoid surprises at close “Did I mention we have a $1,000 installation fee?”
5. Ask for order more than once Buyers often say “No No No No No….um OK”
Recognize Closing Clues: Verbal
Questions “Do you provide a warranty?”
“How soon would you be able to deliver?”
Recognitions Positive statement about your product
“We have been looking for a faster version.”
Requirements Some buying condition that must be met before
purchase.
“We would need this up and running by Christmas.”
Can be subtle and missed if not alert
Recognize Closing Clues: Nonverbal What are some signals that show J.S.
may be interested in your product?
Facial expression changes
Examines product literature intently
Leans toward you
Prospect nods agreement
Specific Closing Methods Trial close
Direct appeal
Assumptive close
Summary of benefits
Special concession
Multiple options
Balance sheet
Management close
Combination
Trial Close All about reading
cues/timing “Can we ship in May?” “Would you like to start
on the first of the month?”
Don’t be too aggressive Use if a particular benefit
really strikes interest
Direct Appeal Close
Ask for the order in a straightforward manner Should not come too early Gain prospect’s respect first After asking, remain quiet Direct question encourages a direct answer
Assumptive Close “Take-it-for-granted” close Only use when you are certain the customer
has decided to buy Comes near the end of the presentation “Because this shipment
can meet your timetable, let’s go ahead and placeyour order.”
Special Concession Close Extra incentive for acting now “If you sign today, I’ll give you X”
Sale price Quantity discount Liberal credit plan
Use with care because? Can lose credibility Seems transactional
Summary-of-Benefits Close Reemphasize value-added buyer benefits
Step-by-Step close “That’s $25 for each lunch, four conference
rooms, and audio/visual support, plus our special meeting package. Can I make this reservation for you?”
Multiple Options Close To pull off a multiple option close
1. Configure more than one product solution
2. Present several options to customer
3. Remove less-appealing options
4. Stop when ample selection presented In what types of buying situations might this be
effective?
Balance Sheet Close Outlines reasons to buy and not to
buy Engage customer in this process
Can be fun?
Sometimes needed if there is a ton of info
Management Close Involves senior executives or sales manager
Upper-level managers add value Makes prospect feel important
Bring in the Big
Guns
Create a Closing Worksheet
When the Buyer Says No Learn to manage disappointment We don’t take “No” for an answer? When a sale is lost:
Make sure the deal is really dead
Review chain of events; identify weaknesses
Interview the client
Obtain feedback to improve
Be positive regardless of result
Confirm sale and partnership Reassure customer of a good decision Reduce buyer’s remorse (regret, fear, anxiety about
sale)
Compliment buyer on wise decision Sign contract Thank customer for order
When the Buyer Says YesConfirmation Step